Banking

New York Attorney General Letitia James announced new state legislation to ban unfair and abusive business practices, giving state regulators broader authority to crack down on consumer abuses.

The deal is structured as a public securitization, under Rule 144A, and is supported by lending indirectly through more than 1,100 partnerships across the country.

Sen. Mike Rounds, R-S.D., has filed a Congressional Review Act resolution to repeal the Consumer Financial Protection Bureau's rule barring medical debt from credit reports.

The United Auto 2025-1 series of notes has a more mixed subordination element compared with the previous deal.

The KBW Nasdaq Bank Index is down more than 7% year to date. Analysts blame confusion caused by President Trump's evolving tariff policies and heightened worries about an economic downturn that could hurt banks' credit quality.

Forecasters on an American Bankers Association panel predict continued economic growth this year, though they say President Trump's tariffs have created new inflation and recession risks.

Following a record-setting 2024, only one transaction involving a credit union buying a bank has been announced so far this year. Seller concerns about regulatory approval and pushback from bank industry groups have contributed to the slowdown.

It is the program's second issuance to come to market with a pool made up entirely of consumer loans.

Changes are needed to shore up the agency's finances and guarantee the integrity of its flagship 7(a) lending program, according to a leading trade group.

Affirm grade A loans account for 34.8% of the pool and have historically produced the lowest defaults in the sponsor's managed portfolios.